Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1887-08-29
BOOM! BOOM! BOOM II
SACRAMENTO CITY THE CENTER
OF ATTRACTION.
The Lands of Central and Northern
California Asserting Their
Supremacy.

equaled in its attractiveness to home
seekers and those who wish to better their
conditions in life by gain since the dis
covery of gold in 1S48, which led to its
first settlement by the white man. What
has been taken in gold from the earth is
but a small amount in comparison to
her annual yield of golden fruits.
No country in the world can or does
produce such fruit. Our city is to-day ex-
cited over the sudden rise in real estate.
On every hand the owner is asked what he
will take for his property, and, no matter
what the price, takers are readily found,
who, if they so choose, can Immediately
sell at an advance. The city never was
more prosperous. the orchardist, vineyard
ist and farmer in this section are all well
to do, and the sudden
ADVANCE ALL ALONG THE LINE
Does not in every instance induce the
shrewd, business-like real estate owner to
SELL
A fruit grower who has 20 acres ON the
American river eight miles east of this
city, refused yesterday to consider propo-
sition of 81 900 per acre. and why should
he not? He figures to the effect that his
annual fruit crop pays interest on S150,000,
and why should he dispose of such land at
that price?
What is the cause of this boom or sud-
den advance in real estate? is question
asked on every hand. A Sacramento bust
ness man, one of our leading financiers,
answers the question by saying: 1t is all
owing to the success attending the auction
sales of California fruit in the East. 1t
has caused a Juror wherever it has been
sold. The fruit is so far superior to
anything of the kind ia the Eastern
markets, that it has turned the atten-
ton of millions of people to that wonder
fulc land, where grow such large and
handsome peaches, such luscious clus-
tiers of grapes, such mammoth and
toothsome pears plums so large that the
people are astounded." That land of peer
less fruit is Northern and Central Califor-
MIA, and the products are shipped from
Sacramento. No platter how soon the
boom may collapse in Southern California
no matter how much this section may be
lied about by those of other portions of the
State, who wish to advance their own in
terests by
DBcRYING OUR UNBoUNDED RESOURCES
And many natural advantages the fact still
remains that this is the home of the decid-
uous fruits, and Sacramento City is the
central commercial shipping point of the
greatest fruit-producing section the world
has ever known. Her lands for this pur-
pose are millions OF acres, hundredth
part of which vet remain uncultiyated.
There is room for thousands who are
seeking homes and investments. The
soil is all that could be asked the climate
has no superior; the facilities for irriga-
ton, shipping of products etc., are unsur-
passed. Add to this the fact that our peo-
pie are thrifty, educated, her social status
and educational facilities the very best, and
what more can homeseeker desire? Add
to all these qualities, which are in the
superlative, the fact that land is plentiful
and cheap, and then there is no longer any
reason to ask the cause of the boom. 1t is
no boom. 1t has no quality of BOOM 1t
Is simply an appreciation of values,
long since known to our people, but
kept down in the market because
there was much more land than
the population could handle. What is
required is an influx of immigration such
as we are now getting. This causes q de-
mand for land, and the choice pieces i'm
mediately begin to go up to that point
where they really belong. Over-produc-
ton, which for years was u great bug
bear and retarded
THE EXTENSION OF ORCHARDS
And vineyards, has been entirely elimi-
mated by the fast trains and cheap freights
The entire continent is our market, and
100000 GOO people are our customers.
On Saturday last the real estate firms in
this city found that the demands for real
estate were so far in excess of offers for
sale that the buyers outnumbered the
sellers at least three to one. Money is COM
ing into the town by every express and
mail, aud hundreds of orders 10 buy
were flashed over the electric wires.
The people everywhere were excited, and
men were buying and selling real estate
with that abandon that stocks were dis
posed of in the Boards in the liveliest days
of the Comstock. Hundreds of sales were
made by curb-stone brokers'" and q man
who owned piece of real estate within the
city or without, could bond it for 80, 60 or 80
days at his own price, and get a handsome
payment as forfeit thereon
One man bought an installment lot and
paid $40 thereon. Fifteen minutes later
he sold il for $50 advance. This gave him
THE BOOM FEVER.
He rode out to Twentieth street, saw
man digging in his lot, and asked him
what he would take for it. The man re-
piled Last week | would have sold it for
$500. | ask $500 for il now" "TIl
take it, said the real estate broker. and
counted out $25, which he handed to the
man as forfeit, and ordered the papers
made out Immediately. He drove back to
Fourth street, placed the lot in the hands
of real estate owner to sell for him. In
less than hall an hour the real estate agent
found purchaser at s., 500, and the young
broker pocketed a cool 500 profit on his
transaction. Scores of just such transac-
tons We're made throughout the day, and
during the week many shrewd business
men pocketed thousands of dollars on SINH
lar transactions.
The Central House property, which some
time ago was sold for $4,000, was on Fri
day sold to banker in this city for $50, 600.
The owner of the lot on the southwest
corner of Ninth and K streets, covered with
a few old wooden buildings, YESTERDAY re-
fused an offer of $4,000 The same prop
erty two weeks ago could not have been
sold for $4,000.
The syndicates that have purchased large
tracts for subdivision, notably the Cardwell
and Doyle tracts. are much encouraged, and
can dispose of tho.e estates at good price
so soon as the proper subdivisions can be
made. Frank Miller. one of the original
members of these syndicates, sold out last
evening. He would not state The advance
he received, but it is understood to be well
up in the thousands. He expresses the
opinion that all real estate throughout this
county, and particularly the foothill fruit
lands OF Ell Dorado, will advance immedi
ately with hop, skip and jump"
LUoxYErNDrvIDuAIs.
On Friday afttanoon a gentleman pur-
chased two urnmproved lots between
Twenty-first and sTwenty-second streets
Just on the eastern declivity of the ridge
paying therefor 81 200. The next morning
be sold the sand FOR $500, an advance of
$500 in one night
Another gentl Anan on Saturday was Of
fered half-lot sFay out on H Street. be-
yond the Park, aor $500. He came down
town at once and put up 500 in the agents
hands. A few minutes afterwards the
owner met him pm the sidewalk and said
he had withdra IN the lot, as be could get
5000 for it from Any one of several parties.
The purchaser ;4ld him he was too late
that the money was up and the lot was his
own. The owner said he felt like butting
his head against 4 brick wall for his stu
pidity, but his lot was gone, just the same.
The impression prevails that a move
ment is about to be inaugurated in i'm
proved city property. There are plenty of
houses and improved lots near the center
of the city thatconld be bought week ago
for almost IS small sums as have within